-----BEGIN PRIVACY-ENHANCED MESSAGE-----
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<SEC-DOCUMENT>0000842023-07-000002.txt : 20070130
<SEC-HEADER>0000842023-07-000002.hdr.sgml : 20070130
<ACCEPTANCE-DATETIME>20070130114627
ACCESSION NUMBER:		0000842023-07-000002
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20070130
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070130
DATE AS OF CHANGE:		20070130

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TECHNE CORP /MN/
		CENTRAL INDEX KEY:			0000842023
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				411427402
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17272
		FILM NUMBER:		07563510

	BUSINESS ADDRESS:	
		STREET 1:		614 MCKINLEY PL N E
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55413
		BUSINESS PHONE:		6123798854

	MAIL ADDRESS:	
		STREET 1:		614 MCKINLEY PLACE NE
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55413
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>k8q2.txt
<DESCRIPTION>8-K
<TEXT>
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549

                                FORM 8-K

                              CURRENT REPORT

                  PURSUANT TO SECTION 13 OR 15(d) OF THE
                     SECURITIES EXCHANGE ACT OF 1934

    Date of report (Date of earliest event reported): January 30, 2007

                            TECHNE CORPORATION
             (Exact Name of Registrant as Specified in Charter)


       Minnesota                     0-17272             41-1427402
(State or Other Jurisdiction       (Commission         I.R.S. Employer
of Incorporation)                  File Number)      Identification No.)

                614 Mckinley Place NE
                   Minneapolis, MN                       55413
       (Address of Principal Executive Offices)       (Zip Code)

     Registrant's telephone number, including area code:  (612) 379-8854

                              Not Applicable
      (Former Name or Former Address, if changed since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligations of the registrant under any
of the following provisions:

/ /   Written communications pursuant to Rule 425 under the Securities Act
      17 CFR 230.425)

/ /   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

/ /   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

/ /   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))


<PAGE>



Item 2.02  Results of Operations and Financial Condition

A copy of the press release issued by Techne Corporation on January 30, 2007,
describing the results of operations for the quarter and six months ended
December 31, 2006 and its financial condition as of December 31, 2006, is
attached hereto as Exhibit 99.1.

Segment information for Techne Corporation for the quarter and six months
ended December 31, 2006 which has been included on Techne Corporation's
website (www.techne-corp.com), is attached hereto as Exhibit 99.2.

The information in this Form 8-K and the Exhibits attached hereto shall not
be deemed "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended (the "Exchange Act"), or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated by reference
in any filing under the Securities Act of 1933 or the Exchange Act, except as
expressly set forth by specific reference in such filing.


Item 9.01 Financial Statements and Exhibits

     (d) Exhibits

99.1 Press Release dated January 30, 2007.

99.2 Segment information for the quarter and six months ended
     December 31, 2006.






                            SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


Dated: January 30, 2007               TECHNE CORPORATION
                                      By: /s/ Thomas E. Oland
                                      ---------------------------
                                      Name: Thomas E. Oland
                                      Title: President and Chief
                                        Executive Officer



                          EXHIBIT INDEX

    Exhibit No. Description
    ----------- -----------
       99.1     Press release of Techne Corporation dated January 30, 2007.

       99.2     Segment information for Techne Corporation for the quarter
                and six months ended December 31, 2006.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>press107.txt
<DESCRIPTION>PRESS RELEASE DATED JANUARY 30, 2007
<TEXT>
      TECHNE CORPORATION RELEASES UNAUDITED SECOND QUARTER
                   RESULTS FOR FISCAL YEAR 2007

Minneapolis/January 30, 2007/--Techne Corporation's (NASDAQ: TECH)
consolidated net earnings for the quarter ended December 31, 2006 increased
13.0% to $18.7 million or $0.47 per diluted share compared to $16.5 million
and $0.42 per diluted share for the quarter ended December 31, 2005.  For the
six months ended December 31, 2006, Techne's consolidated net earnings
increased 14.3% to $38.3 million or $0.97 per diluted share compared with
$33.5 million or $0.84 per diluted share for the six months ended December
31, 2005.  The improvement in results was mainly due to increased
consolidated net sales and improved gross margin percentages.

Consolidated net sales for the quarter and six months ended December 31, 2006
were $52.5 million and $104.9 million, respectively. This was an increase of
9.3% and 9.5% from the quarter and six months ended December 31, 2005.

Biotechnology net sales, which includes sales by R&D Systems' Biotechnology
Division, Fortron and BiosPacific, for the quarter and six months ended
December 31, 2006 were $33.4 million and $69.3 million, increases of 7.3% and
9.3%, respectively, from the same prior-year periods.  Net sales for the
Biotechnology Division increased 11.1% and 10.9% for the quarter and six
months ended December 31, 2006, respectively, mainly as a result of increased
volume from the same prior-year periods. Approximately $500,000 and $1.2
million of the increase in Biotechnology Division net sales for the quarter
and six months ended December 31, 2006, respectively, was the result of price
increases.  BiosPacific net sales increased for the quarter ended September
30, 2006 from the first quarter of the prior year, but decreased from the
prior year for the quarter ended December 31, 2006 due to the timing of large
shipments to diagnostic customers.

R&D Europe's net sales for the quarter and six months ended December 31, 2006
were $15.3 million and $28.2 million, increases of 16.4% and 12.8%,
respectively, from the same prior-year periods.  In British pound sterling,
R&D Europe's net sales increased 4.3% and 3.5% for the quarter and six months
ended December 31, 2006. Hematology net sales for the quarter and six months
ended December 31, 2006 were $3.8 million and $7.3 million, increases of 1.2%
and 0.2%, respectively, compared to the quarter and six months ended December
31, 2005.

Consolidated gross margins were 79.6% and 79.1% for the quarter and six
months ended December 31, 2006, respectively, compared to 77.7% and 77.2% for
the quarter and six months ended December 31, 2005. Biotechnology gross
margins increased to 80.8% and 80.2% for the quarter and six months ended
December 31, 2006 from 78.4% and 77.9% for the same prior-year periods mainly
as a result of changes in product mix. Biotechnology gross margins were also
affected by the sale of inventory acquired from Fortron and BiosPacific in
fiscal 2006, which was valued at fair market under purchase accounting.
Included in cost of sales for the quarter and six months ended December 31,
2006 were $64,000 and $355,000, respectively, related to the sale of acquired
inventory compared to $281,000 and $856,000, respectively, for the same prior
year periods.

Consolidated net earnings and diluted earnings per share for the quarter and
six months ended December 31, 2006 were favorably impacted by the change in
exchange rates from the prior year used to convert R&D Europe results from
British pound sterling to U.S. dollars.  The change in exchange rates from
the prior year increased consolidated net earnings approximately $466,000 and
$672,000 for the quarter and six months ended December 31, 2006,
respectively.

In October 2006, the Company repaid its mortgage debt. The total payment of
$13.8 million included the mortgage principal balance, accrued interest and a
5% prepayment penalty of $651,000. The prepayment penalty and $78,000 of
unamortized loan origination fees were included in interest expense for the
quarter ended December 31, 2006.

Forward Looking Statements:
This earnings release may contain forward-looking statements within the
meaning of the Private Litigation Reform Act.  These statements involve risks
and uncertainties that may affect the actual results of operations.  The
following important factors, among others, have affected and, in the future,
could affect the Company's actual results: the introduction and acceptance of
new biotechnology and hematology products, the levels and particular
directions of research by the Company's customers, the impact of the growing
number of producers of biotechnology research products and related price
competition, the retention of hematology OEM and proficiency survey business,
the impact of currency exchange rate fluctuations, and the costs and results
of research and product development efforts of the Company and of companies
in which the Company has invested or with which it has formed strategic
relationships.  For additional information concerning such factors, see the
Company's annual report on Form 10-K and quarterly reports on Form 10-Q as
filed with the Securities and Exchange Commission.  We undertake no
obligation to update or revise any forward-looking statements we make in this
release due to new information or future events.  Investors are cautioned not
to place undue emphasis on these statements.

               *  *  *  *  *  *  *  *  *  *  *  *  *  *
Techne Corporation has two operating subsidiaries:  Research and Diagnostic
Systems, Inc. (R&D Systems) of Minneapolis, Minnesota and R&D Systems Europe,
Ltd. (R&D Europe) of Abingdon, England.  R&D Systems is a specialty
manufacturer of biological products.  R&D Systems has two subsidiaries,
Fortron Bio Science, Inc. (Fortron), located in Minneapolis, and BiosPacific,
Inc. (BiosPacific), located in Emeryville, California. Fortron develops and
manufactures antibodies and BiosPacific is a worldwide supplier of biologics
to manufacturers of in vitro diagnostic systems and immunodiagnostic kits.
R&D Europe is a distributor of biotechnology products.

Contact:  Greg Melsen, Chief Financial Officer
          Kathy Backes, Controller
          (612) 379-8854



                         TECHNE CORPORATION
                CONSOLIDATED STATEMENTS OF EARNINGS
               (In thousands, except per share data)
                            (Unaudited)

                                        QUARTER ENDED     SIX MONTHS ENDED
                                     ------------------  ------------------
                                     12/31/06  12/31/05  12/31/06  12/31/05
                                     --------  --------  --------  --------
Net sales                             $52,509   $48,029  $104,860   $95,738
Cost of sales                          10,714    10,695    21,951    21,791
                                     --------  --------  --------  --------
Gross margin                           41,795    37,334    82,909    73,947

Operating expenses:
 Selling, general and administrative    8,830     7,980    15,897    14,434
 Research and development               5,044     4,574     9,899     9,291
 Amortization of intangible assets        404       492       807       984
                                     --------  --------  --------  --------
   Total operating expenses            14,278    13,046    26,603    24,709
                                     --------  --------  --------  --------
Operating income                       27,517    24,288    56,306    49,238
Other expense (income):
 Interest expense                         815       238     1,083       461
 Interest income                       (1,956)   (1,130)   (3,632)   (2,104)
 Other non-operating
  expense (income), net                   428       281       913       492
                                     --------  --------  --------  --------
   Total other expense (income)          (713)     (611)   (1,636)   (1,151)
                                     --------  --------  --------  --------
Earnings before income taxes           28,230    24,899    57,942    50,389
Income taxes                            9,567     8,385    19,648    16,874
                                     --------  --------  --------  --------
Net earnings                          $18,663   $16,514   $38,294   $33,515
                                     ========  ========  ========  ========

Earnings per share:
 Basic                               $   0.47  $   0.42  $   0.97  $   0.86
 Diluted                             $   0.47  $   0.42  $   0.97  $   0.84
Weighted average common
 shares outstanding:
  Basic                                39,387    38,877    39,383    38,815
  Diluted                              39,511    39,761    39,483    39,730


                              TECHNE CORPORATION
                          CONSOLIDATED BALANCE SHEETS
                                (In thousands)
                                  (Unaudited)

                                                   12/31/06      6/30/06
                                                   --------     --------
ASSETS
Cash and equivalents                               $102,558     $ 89,634
Short-term available-for-sale investments            23,751       19,212
Trade accounts receivable                            22,923       23,769
Other receivables                                     1,355        1,309
Inventory                                             9,210        9,024
Other current assets                                  7,426        6,874
                                                   --------     --------
  Current assets                                    167,223      149,822

Available-for-sale investments                       80,205       77,660
Property and equipment, net                          90,045       88,772
Goodwill and intangible assets, net                  31,215       32,021
Other non-current assets                             28,954       22,237
                                                   --------     --------
  Total assets                                     $397,642     $370,512
                                                   ========     ========
LIABILITIES
Current liabilities                                $ 12,160     $ 17,966
Long-term debt                                           --       12,198
Stockholders' equity                                385,482      340,348
                                                   --------     --------
  Total liabilities and equity                     $397,642     $370,512
                                                   ========     ========






</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>seg1206.txt
<DESCRIPTION>SEGMENT RESULTS
<TEXT>
                             SEGMENT INFORMATION
                       TECHNE CORPORATION AND SUBISIDARIES
                     (in thousands of $'s, except per share data)

	                                               Increase (Decrease)
                             Fiscal 2007               From Fiscal 2006
                    -------------------------------- -----------------------
                     First  Second          Percent   First  Second
                    Quarter Quarter   YTD   Of Sales Quarter Quarter    YTD
                    ------- ------- ------- -------- ------- -------  -------
Sales                52,351  52,509 104,860   100%     4,642   4,480    9,122
Cost of sales        11,237  10,714  21,951    21%       141      19      160
                     ------  ------ -------  -------  ------  ------   ------
Gross margin         41,114  41,795  82,909    79%     4,501   4,461    8,962

Gross margin
 percentage           78.5%   79.6%   79.1%

SG&A expense          7,067   8,830  15,897    15%       613     850    1,463
R&D expense           4,855   5,044   9,899     9%       138     470      608
Amortization expense    403     404     807     1%       (89)    (88)    (177)
Interest expense        268     815   1,083     1%        45     577      622
Interest income      (1,676) (1,956) (3,632)   (3%)     (702)   (826)  (1,528)
Other non-operating
  ex., net              485     428     913     1%       274     147      421
                     ------  ------ -------  -------  ------  ------   ------
                     11,402  13,565  24,967    24%       279   1,130    1,409
                     ------  ------ -------  -------  ------  ------   ------
Earnings before
 income taxes        29,712  28,230  57,942    55%     4,222   3,331    7,553
Income taxes         10,081   9,567  19,648    18%     1,592   1,182    2,774
                     ------  ------ -------  -------  ------  ------   ------
                     19,631  18,663  38,294    37%     2,630   2,149    4,779
                     ======  ====== =======  =======  ======  ======   ======

Diluted earnings
 per share             0.50    0.47    0.97
Weighted average
 diluted shares
 outstanding         39,469  39,511  39,483




                                  BIOTECHNOLOGY  (1)
                                 (in thousands of $'s)

	                                                Increase (Decrease)
                            Fiscal 2007                  From Fiscal 2006
                    -------------------------------- -----------------------
                     First  Second          Percent   First  Second
                    Quarter Quarter   YTD   Of Sales Quarter Quarter    YTD
                    ------- ------- ------- -------- ------- -------  -------
Sales                41,621  40,073  81,694    100%    4,022   2,376    6,398
Intersegment sales   (5,699) (6,647)(12,346)            (400)    (92)    (492)
                     ------  ------ -------  -------  ------  ------   ------
                     35,922  33,426  69,348            3,622   2,284    5,906

Cost of sales         8,482   7,683  16,165     20%       12    (464)    (452)
Intersegment sales   (5,524) (6,435)(11,959)            (201)   (295)    (496)
                     ------  ------ -------  -------  ------  ------   ------
                      2,958   1,248   4,206             (189)   (759)    (948)

Gross margin         32,964  32,178  65,142     80%    3,811   3,043    6,854

Gross margin
 percentage           79.6%   80.8%   80.2%

SG&A expense          4,013   4,664   8,677     11%      374     470      844
R&D expense           4,675   4,854   9,529     12%      143     450      593
Amortization expense    403     404     807      1%      (89)    (88)    (177)
Interest, net          (595)   (722) (1,317)    (2%)    (327)   (349)    (676)
                     ------  ------ -------  -------  ------  ------   ------
                      8,496   9,200  17,696     22%      101     483      584
                     ------  ------ -------  -------  ------  ------   ------
Pretax result        24,468  22,978  47,446     58%    3,710   2,560    6,270
                     ======  ====== =======  =======  ======  ======   ======

(1) Includes R&D Systems' Biotechnology Division, Fortron Bio
Science, Inc., and BiosPacific, Inc.


                             R&D SYSTEMS EUROPE
                       (in thousands of British pounds)

	                                               Increase (Decrease)
                              Fiscal 2007               From Fiscal 2006
                    -------------------------------- -----------------------
                     First  Second          Percent   First  Second
                    Quarter Quarter   YTD   Of Sales Quarter Quarter    YTD
                    ------- ------- ------- -------- ------- -------  -------
Sales                 6,870   7,851  14,721    100%      180     322      502
Cost of sales         3,285   3,766   7,051     48%       (7)      1       (6)
                     ------  ------ -------  -------  ------  ------   ------
Gross margin          3,585   4,085   7,670     52%      187     321      508

Gross margin
 percentage           52.2%   52.0%   52.1%

SG&A expense          1,074   1,236   2,310     16%       70      51      121
Interest income        (410)   (480)   (890)    (6%)     (84)   (151)    (235)
Exchange loss/(gain)     78     (64)     14      --       63     (90)     (27)
                     ------  ------ -------  -------  ------  ------   ------
                        742     692   1,434     10%       49    (190)    (141)
                     ------  ------ -------  -------  ------  ------   ------
Pretax result         2,843   3,393   6,236     42%      138     511      649
                     ======  ====== =======  =======  ======  ======   ======




                               R&D SYSTEMS EUROPE
                              (in thousands of $'s)

	                                               Increase (Decrease)
                              Fiscal 2007               From Fiscal 2006
                    -------------------------------- -----------------------
                     First  Second          Percent   First  Second
                    Quarter Quarter   YTD   Of Sales Quarter Quarter     YTD
                    ------- ------- ------- -------- ------- -------  -------
Sales                12,927  15,257  28,184    100%    1,052   2,151    3,203
Cost of sales         6,181   7,319  13,500     48%      337     765    1,102
                     ------  ------ -------  -------  ------  ------   ------
Gross margin          6,746   7,938  14,684     52%      715   1,386    2,101

Gross margin
 percentage           52.2%   52.0%   52.1%

SG&A expense          2,020   2,405   4,425     16%      238     346      584
Interest income        (771)   (933) (1,704)    (6%)    (192)   (361)    (553)
Exchange loss           147    (126)     21      --      119    (172)     (53)
                     ------  ------ -------  -------  ------  ------   ------
                      1,396   1,346   2,742     10%      165    (187)     (22)
                     ------  ------ -------  -------  ------  ------   ------
Pretax result         5,350   6,592  11,942     42%      550   1,573    2,123
                     ======  ====== =======  =======  ======  ======   ======



                                    HEMATOLOGY
                              (in thousands of $'s)

   	                                                Increase (Decrease)
                               Fiscal 2007               From Fiscal 2006
                    -------------------------------- -----------------------
                     First  Second          Percent   First  Second
                    Quarter Quarter   YTD   Of Sales Quarter Quarter     YTD
                    ------- ------- ------- -------- ------- -------  -------
Sales                 3,502   3,826   7,328   100%       (32)     45       13
Cost of sales         2,098   2,147   4,245    58%        (7)     13        6
                    ------- ------- ------- -------- ------- -------  -------
Gross margin          1,404   1,679   3,083    42%       (25)     32        7

Gross margin
 percentage           40.1%   43.9%   42.1%

SG&A expense            398     439     837    11%        14      15       29
R&D expense             180     190     370     5%        (5)     20       15
Interest, net           (81)    (95)   (176)   (2%)      (44)    (45)     (89)
                    ------- ------- ------- -------- ------- -------  -------
                        497     534   1,031    14%       (35)    (10)     (45)
                    ------- ------- ------- -------- ------- -------  -------
Pretax result           907   1,145   2,052    28%        10      42       52
                     ======  ====== =======  =======  ======  ======   ======


                              CORPORATE AND OTHER (2)
                               (in thousands of $'s)

	                                             Increase (Decrease)
                                Fiscal 2007            From Fiscal 2006
                          ----------------------- -----------------------
                           First  Second           First  Second
                          Quarter Quarter   YTD   Quarter Quarter   YTD
                          ------- ------- ------- ------- ------- -------
Interest income               229     206     435     139      71     210
Rental income                 299     241     540     (43)    (96)   (139)
                          ------- ------- ------- ------- ------- -------
                              528     447     975      96     (25)     71

SG&A expense                  636   1,322   1,958     (13)     19       6
Interest expense              268     815   1,083      45     577     622
Other-Building expenses       510     549   1,059      67      59     126
Other-Hemerus losses          127     123     250      45      41      86
Other-Nephromics losses        --     123     123      --     123     123
                          ------- ------- ------- ------- ------- -------
                            1,541   2,932   4,473     144     819     963
                          ------- ------- ------- ------- ------- -------
Pretax result              (1,013) (2,485) (3,498)    (48)   (844)   (892)
                          ======= ======= ======= ======= ======= =======


(2) Unallocated corporate expenses and Techne's share of losses by Hemerus
Medical, LLC and Nephromics, LLC.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
